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class as well. it would probably work. but it is a huge controversy from the taxes. ... thank you for taking my call. independent because most of us americans have caught onto the big blame game. , andeach blame each other basically they are on the same team. they have different ways to go about it. my main problem is the epa. we are giving him close to $8 million, and it'll do nothing for us. they let the fracking industry go unregulated, they let solar management go unregulated. they are spraying our skies, trying to dim the sun to fight global warming. nobody knows about it. 02 global sky watch and you can find out all aut i i o knowre i i want to know where is the epa protecting us from this, his name is david frum nasa and he wants to spray and he has been spraying our sunlight dependent. >> host: zachary goldfarb, i know you don't cover epa specifically but the president, climate change is part of the agenda this year. >> guest: that's right and the president is putting money into funding and he proposes billions of dollars for climate research and for related endeavors. epa
to hear before turning in your taxes. and.... the company that orchestrated the most famous re-tweet ever... first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's wednesday, march 5th i'm angela miles. in today's first look: the s&p rises to a new record high as the standoff between russia and the ukraine becomes "less tense". it's the 49th record set by the index. the dow- also had a positive reaction jumping 228 points, the nasdaq 75 and the s&p 28 gold scaled back $15 dollars and oil.. $1.63. caterpillar's ceo says he is guardedly optimistic about the global economy...which added into the buying blitz on wall street. and the power of the plug. yesterday we told you about the fuel cell stock plug power that surged 24% monday well on tuesdays it rallied 15% more.. trader daniel stecich of athena advisor services joins us now. there was a collective sigh of relief in the market yesterday but will that continue? >>i think it will. you have to put what happened in russia behind us and if you look at what happe
-- it would allow americans to remain uninsured through tax season. without a fine. the fine skill up in subsequent years in order to encourage people to join the health insurance pool. republicans are arguing that the obama administration has given breaks to businesses that would have been required to provide health insurance to their employees. republican said that is unfair that individuals will be fined when employers will not be fined. >> the white house plans to announce further delayed some other parts of the wall. what are you hearing? >> what we expect this week is for the white house to actually allow insured companies to continue to offer plans that do not meet obamacare's minimum coverage requirements for the next couple of years. it will be a major delay for the white house, when they announced this. what it will do is allow insurance companies to continue selling policies that otherwise would have been disqualified under obama's rules for minimum health-care coverage. a policy that does not have maternity care or pediatric care or mental health services included could co
too much, borrows too much, and taxes too much. it reflects says america's priorities to create jobs, strengthen the middle class, and build an economy that creates opportunity for all. went to theell floor yesterday and talked about the president's budget proposal. he said it is not a serious document. [video clip] >> it will probably never past the democratic led senate. in some sense, that is the point. rather than put together a constructive blueprint both parties could use to get the economy moving, the president is opting for the political stunt for a budget that is more about andng up the base in election-year. it would increase taxes by over $1 trillion in the worst economic slowdown anyone can remember. it would explode spending by $790 billion, forcing us to borrow more money. it would do almost nothing to threatsthe serious facing our children's futures and does not come close to balancing this year. mitch mcconnell talking about the 2015 budget proposal. congress will take up budget proposals and will decide what gets spent. "the washington post" tweeted this -- it would
new initiatives for early childhood education, job training programs, expanding tax credits, and tax cuts as well. also, new funding for infrastructure. all these ideas the president says is important for getting the economy to move in the right direction. >> it is a roadmap for creating jobs with good wages. at a time where deficit has been cut in half, it allows us to meet our obligations to future generations without leaving them a mountain of debt. >> republicans, including speaker john boehner, called his budget the most irresponsible yet. they believe this is a campaign move that includes a whole host of issues that democrats like to campaign on in this midterm election year. this budget in the eyes of republicans and some democrats -- they are going to make some big changes. >> thank you very much, peter cook. let's move on to media. the big story today was the entertainment network epix is joining the time warner cable family. it will be launched nationally on march 18. joining us to talk about this deal is the president and chief executive of epix, mark greenberg. also with
-murray, it is paid for with spending cut and tax reforms. it is deficit neutral. supporting what the president said in the state of the union, there is a series of programs to create jobs. it lays out $302 billion infrastructure proposal that is paid for with pro-growth tax. it strengthens the manufacture base and supports groundbreaking research to fight disease, protect the environment and develop new technology. it enhances the administration's management efforts to deliver a government that is more efficient and supportive of economic growth. and it will expand opportunity for all-americans. it doubles the maximum value of the earned income tax credit to encourage people to enter the workforce. and makes high quality preschool available to every four year old. and drive workforce training. it will focus on the primary drivers of long term debt and deficits. it builds on the forms of the affordable care act and continues to slow health care cost growth while improving the quality. it will curb tax breaks that benefit the wealthiest. it calls for pro-growth immigration reform. the deficit has bee
a compromise that included spending cuts in exchange for tax revenue. unfortunately, his compromise and the other compromise discussed did not make it through. the committee, in a sense, failed to come to conclusion to propose to the senate and the house a compromise that could be lived. .. >> i want to welcome the senator from pennsylvania senator to me. >> toomey. >> excuse my voice it sounds worse than it is. think you for having me today and for his kind introduction and from universal health services it was allen's idea that i'd be invited to speak with you this morning and i appreciate that but i was a little surprised to be honest because allen knows about my notorious weaknesses with the public speaker and invited me any way. i say notorious for meet -- for be the department of public speaking made clear by only a smile -- of small child. i have three little kids into are not so little but my eldest is a little girl when she was in the second to parade the school had a program where you are invited to come into the class to explain what you do for a living. i stood up in fro
of the most outrageous tax loophole in america. will he actually do it this year? jeanne moos shows us the latest workout trend. >> nice job, nice job. so we talked about her options. her valuable assets were staying. and selling her car wouldn't fly. we helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today...and tomorrow. so let's see what we can do about that... remodel. motorcycle. [ female announcer ] some questions take more than a bank. they take a banker. make a my financial priorities appointment today. because when people talk, great things happen. make a my financial priorities appointment today. she loves a lot of it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical
not been asked. i will cooperate in any way that i can if i am asked. stuart: have you achieved the tax status that you requested? stuart: you will not be intimidated in this year's midterm elections. >> we are intimidated by these new rules that have come out by the irs. these new rules will shut us down as a tea party group. stuart: really? they are significant enough to shut you down? >> absolutely. from now on, we cannot have debate or candidate forums within 60 days of a general election or 30 days of a primary. we cannot put anything in an e-mail, website, we can no longer do scorecards. this is the heart of what we do. it will jeopardize our tax status. stuart: becky, thank you for joining us. >> thank you for having me on. stuart: let's get to the markets. where are we? ninety-eight minutes. we did get some employment numbers. right now, virtually no movement. the record closes 1873. a couple of stocks that we are watching for you very carefully. we saw a lot of guns. it seems to me that the market is telling people want to buy weapons that can be concealed. >> yes. stuart: you
, according to the cbo, of revenue over five years. so it pays for itself. it is not a tax because it, it pays for itself only for those within the national flood insurance program. so if you're not in a flood zone and you don't have flood insurance, this doesn't affect you. but if you are in the flood insurance program and your primary residence you will pay a user fee to pay in the program of $25 a year. very reasonable. that will pay for the program. gerri: i got it tell you, 200 million over five years? that doesn't do anything over4 billion in debt the program is already n how will we pay that off? >> well it is still better than nothing. had we done nothing, there wouldn't be 165 million toward that debt. that is number one. second thing that number is not completely accurate. people don't tell you against the bill, every time there was ever a surplus in the flood insurance program, that surplus was raided and used for the general spending of government. you will always be at somewhat deficit keep raiding any year there is surplus. that is unone of the problems -- gerri: how long has it
, totaling almost $4 trillion. it includes new tax hikes to offset additional spending for education and job-training. but republicans say it does nothing to address the nation's fiscal challenges. we'll discuss its approach to helping low income americans, later in the program. israeli prime minister benjamin netanyahu is warning the u.s. and the world against letting iran go ahead with any part of its nuclear program: he spoke in washington, a day after meeting with president obama. >> the leading powers of the world are talking about leaving iran with the capability to enrich uranium. i hope they don't do that because that would be a grave error. it would leave iran as a threshold nuclear power. >> woodruff: netanyahu also said that far from easing sanctions on iran, the world should increase them. he also urged the palestinians to recognize israel as a jewish state, if they really want peace. the process of removing syria's chemical weapons is picking up pace. the dutch diplomat overseeing the operation said today the assad regime has handed over six shipments of toxic agents. she spoke
. it lays out how and where your tax dollars get raised and spent. president obama would like more of those dollars to go towards road construction, job training and preschool education next year. he wants to expand a tax break for lower income workers, and he wants to take away a tax break currently enjoyed by high-ear high-earning hedge fund types who earn most of their income from fees they charge investors. that's all i'm going to tell you at the moment about what is in this budget. instead, i want to you focus on what is wrong with the entire budget process in washington. formerly presidents present a budget to congress. president obama is a month late, but that's the least of the problems. then congress develops it's own version of the budget, and they vote on it by april 15th, sending it back to the president to be signed into law by then. this has not happened in years. keep in mind appropriating money to pay for things is the one thing that constitution actually requires congress to do. everything else is optional. there is a problem, unlike good wine, a federal budget does not get
president obama today said he's going to get rid of the most outrageous tax loophole in america. will he actually do it this year? jeanne moos shows us the latest workout trend. >> nice job, nice job. there's this kid. coach calls her a team player. she's kind of special. she makes the whole team better. he's the kind of player that puts the puck, horsehide, bullet. right where it needs to be. coach calls it logistics. he's a great passer. dependable. a winning team has to have one. somebody you can count on. somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm very pround of him. her. them. phone: your account is already paid in full. oh, well in that case, back to vacation mode. ♪boots and pants and boots and pants♪ ♪and boots and pants and boots and pants♪ ♪and boots and pants... voice-enabled bill pay. just a tap away on the geico app. ♪ huh, 15 minutes could save you 15% or more on car insurance. yup, everybody knows that. well, did you know that some owls aren't that wise. don't forget about i'm having brunch with meagan tomorrow. who? seriou
that number is a result of the obamacare fund. it doesn't say what jobs and it does raise taxes by $1.8 trillion. and we will expand opportunities for every american. >> republicans announcing the plan, saying that it will add more and to her $17.1 trillion debt over the next 10 years. on wall street it was a record breaking sunny day for stocks. the dow jones surging 228 points. the wilshire 5000 post about 25,000 for the first time ever, measuring the paper gains of $375 billion. bouncing back to 2.9% as investors stave off their safe haven investment. radioshack closing up 20% of its stores after the retailer reported weak holiday shares. plummeting 25% today. a reminder to listen to my financial report three times a day coast-to-coast on the sale network. for all of the days business marketing news, we are coming right back. please stay with us. lou: president obama and secretary kerry talking tough. vladimir putin's response. we have an author and attorney and foreign policy expert andrew mccarthy on the crisis and a triple digit rally on wall street. ...return on investment wall
the 34 million at the it raised 8.6 million so more than a quarter of the goal. the other part is the tax review the estimate this comes from the economics impact analysis. it's 5.8 million of tax revenue for hotels and payroll but the hotel tax revenue in our report hotels already had a high occupancy rate from the america's cup event prior to that you'll see a 1 percent increase but they accounted for the depth people como her to see the america's cup that wouldn't have been here otherwise they've estimated 34 percent in tax revenue but not huge for the city so the loss was 6 million. to talk about the port. this is port capital expenditures. so in total supports in expenditures this is port fund is 23.3 million we worked the port on this. we didn't count they didn't count a lot of the expenditures that was a long-term benefit to the port. there's been discussion in the economic report where united states count the impact of the terminals we choose not to do that because they would have built this anyway not just for the america's cup benefit so in the same way we have 20 million of the
: this rallies the base and expands college access and education for young, poor kids and expanding tax cuts for those in poverty and similar measures the democrats ran on and appreciate. it is a policy document used as a tool for 2015-2016 the final years of the obama presidency. we wants to get something done before leaving. he is figure out a policy plan for the final two years. >> host: is it realistic this plan can get through congress? >> guest: no, i don't think anyone expects the entire budget will pass. i don't think that is that has ever happened. but some things might have opportunity for bipartisan compromise. the business tax code reform would generate revenue to build bridges and roads and generate jobs and that is similar to a proposal that dave camp, the chairman of the house released last week. so ideas in the budget could be ground for compromise. >> host: does he indicate where he is going to act alone? >> guest: there is not so much of that. the president has a robust executive action plan he is implementing and he is taking action and has many more this year. the whiteho
direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protecon. and because usaa'commitment to serve current and former military members andheir families is without equal. begin your legacy. get an auto insurance quote. usaa. we know what it means to serve. >> our mayor is a great guy, he's an excellent mayor. this is eric garcetti meeting some supporters. and there is you. [laughter] >> eric garcetti holding someone's baby, there is rob for the holding someone's baby. neil: not only is the toronto mayor popular there, but here as well. he's popular in toronto. his poll
it is the best poverty fighting idea the government has had in decades. the earned income tax credit. now president obama wants to expand it. in aore, let's bring senior economist for bloomberg government, which analyzes how policy decisions affect business. the earned income tax credit or raising the minimum wage, which works better? going to answer that question specifically. i'm going to tell you why people like the earned income tax credit. they like it because it encourages work. pullingsponsible for six and a half million people out of poverty in 2012, 3.3 million that were children. support ratetisan it has the effect the democrats like any incentives that republicans like. >> you are punting and not answering that. for the sake of argument, run through the things that people like about raising the minimum wage. we have seen that those receiving minimum wage at a higher level feel good about their lives and feel like they don't have to work two jobs anymore, and there are all these psychological benefits that have knock off effects which other economists describe as positive. >> th
in crimea and eastern ukraine. president obama rolled out his big tax and spend budget today. it's precisely what the economy doesn't need. former senator jim demint is going to join us and talk about the budget and give us his response to the new piece in this left leaning politico article that asks if mr. demint is the most hated man in washington. of course he isn't. don't forget, free market capitalism is the best path to prosperity. we need a little bit in the ukraine. i'm kudlow and i'll be right back. in a world that's changing faster than ever, we believe outshining the competition tomorrow quires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. >>> secretary of state john kerry promised $1 billion in sanctions to the fledge lg government. are we going to let stand the russian army invasion and the
the state who are dodging their tax payments. the agency released its list today of the top 500 sales and tax delinquencies and they owe $515 million. nine of the alleged tax yes are located in the 6 in -6z 6 in 6 bay area counties. toping this list statewide is a sacramento business registered as richard w.p. owing more than $3.8 million. coming in second, is kings dry wall supply. three-day blights incorporated in anaheim rounds out the top three. the bay area companies on this list include universal floor covering and hayward, north bay wellness group in santa rosa. a and a sales and marketing which does business and san jose's celebrity services. we posted the full list of the tax offenders on our website, ktvutv.com if you'd like to take a look at it. >> the transportation agency voted unanimously this afternoon to expand a pilot program that limits where oversized vehicles such as mobile homes are allowed to park overnight in the city. the program began last june after complaints from city residents who said the vehicle owners were littering, taking up parking spaces and causin
the clinton administration and congress last raised the gas tax. that was 21 years ago when gasoline was $1.08 and i wonder if barack had even met michelle and there it remained for 21 years. due to inflation and fuel economy increases, the average cost per mile that the american motorist pays to the federal government for transportation has been cut in half. i went on the budget and the ways and means committee the last eight years in order to deal with this issue, but frankly i'm tired of waiting. i introduced a gas tax increase phased in over three years to fully fund a six-year re-authorization. was pleased to be joined by friends during my bill introduction by the u.s. chamber, the afl-cio, truckers and a.a.a., transit, local government, environmentalists, road builders. i find it hard to say people will say this will be a heavy lift because there's little support for it. when chairman camp offered $150 billion last week in his tax reform bill, what president obama suggested $300 billion, where was their broad base of support? maybe that's why both proposals were called dead on arrival
obama unveils his $4 trillion budget. what's his plan for spending and new tax in the coming year? >>> tough turn around. the radio shack will close over 1,000 stores as it tries to stem a sharp slide in sales. can the troubled neighborhood electronics retailer reverse the trend in this ultracompetitive environment? all that and more tonight on "nightly business report" for tuesday, march 4th. >>> good evening, everyone. russia retreats and wall street gets a massive relief rally. investors bought up stocks after russian president putin pulled troops back from the border of ukraine, allaying worries about an imminent military showdown. the major averages surged 1.5% or more, posting their biggest gains so far this year. even setting a new record close for the s&p 500. now those sky-high gains wiped out all of yesterday's losses and even russia's stock market which lost 12% on monday rose more than 6% today. here's a look at the closing numbers. 9 dow soared 227 points, the nasdaq ended at a fresh 14-year high adding almost 75 points and the s & p jumped 28 points to 1873. that's a
calls for increased spending on education. it extend tax kits to lower-income americans including expanding the earned income tax credit. house speaker john boehner is the one who called it irresponsible. remember, there whats not been a budget passed by congress since 2009. >>> president obama heads to connecticut with his push to raise the minimum wage with central connecticut state university he'll be joined by four governors all in favor of increasing the minimum wage. >> if you like your health plan, you may be able to keep it a little longer. "the washington post" says the obama administration is rewriting affordable care act rules again to let americans keep their plans for up to three more years, even if those plans no longer comply with the law. last fall, the white house gave option of letting policy still be sold in the short term even if they were technically illegal. >>> happening today, the house is set to vote for the 50th time on a modification to obamacare. this would be push back the original mandate for one year and making that penalty zero. this is the first su
of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com ♪ [ male announcer ] you're watching one of the biggest financial services cpanies in the country at work. hey. thanks for coming over. hey. [ male annouer ] how did it come to be? yours? ah. not anymore. it's a very short story. come on in. [ male announcer ] by meeting you more than halfway. it's how edward jones makesense of investing. melissa: to a medical breakthrough that is so unbelievable it could make your heart skip a beat. scientists in illinois using 3-d printing to make a device that could reprays traditional pacemakers and keep your ticker beating forever? that sounds great but all the increased costs with the extended life expectancy. dr. manny alvarez with the fox news medical a-team is here. tell me how it works. >> with 3-d printings you're take a picture of the heart, create a ver
. tonko, will pick up the energy piece. but in the president's budget there are these key sectors, tax policy, education, research, infrastructure. let's start at the bottom and work to the top. the president's proposed a $305 billion, four-year transportation program for the united states. anybody that's driven today or east e west coast coast knows we have gridlock, we have transportation problems of all kinds. so the president comes forward with this major initiative, really a significant increase in what we have done in the past. he wants to focus it first on repairing what we already have. the pot holes, the bridges that have fallen down, and others that might. saying, let's get do that. and then he goes about building the more modern transportation systems that we need, expanding our highway program, but also the rail systems, the inner city rail, the intercity rails nd the street cars and other kinds of mass transportation systems. very, very important. and he proposes how we pay for it. he says, we ought not give the oil companies a -- the big four -- a $5 billion annual tax b
county residents could be in for the largest property tax hike since the recession started. the board of supervisors voted last night to advertise a tax rate as a dollar 10 per $100 of assessed value. that's 2 cents higher than the current rate. each cent increase adds up to about $50 on the average taxpayer's bill. several public hearings will be held next month on the measure to discuss it. >>> maryland house of delegates is taking up a bill to increase the state's minimum wage today. the measure would raise the rate to $10.so an hour by -- $10.10 an hour by 2017. >>> president obama will be on the road pushing his 2015 budget and the federal minimum wage will be his focus at central connecticut state university which is in new britain. he wants congress to raise it to $10.10 an hour. after his speech at the college, the. is off to boston for two democratic fund-raisers. >>> today the house of representatives is set to take its 50th vote to modify the affordable care act. the senate isn't likely to take up the measure that would push back the individual mandate for a year. but as ja
tuesday morning. it increases tax credits for the working poor and expand early childhood education. the president also commented on russia's intervention in ukraine. this is about 15 minutes. 2>> good morning, everybody. i am here at powell elementary school and just had a chance to see some of the outstanding students here. i thought it was an appropriate setting for me to say a few words about the budget i sent to congress this morning because obviously the budget is not just about numbers. it's about our values. and it's about our future. and how well we are laying the groundwork for those young children that i was with a few moments ago to be able to succeed here in america. these kids may not be the most excited people in town on budget day, but it is designed with their generation and future generations in mind. in my state of the union address, i laid out an agenda to restore opportunity for all people, to uphold the principle that no matter who you are, no matter where you started, you can make it if you try, here in america. this opportunity agenda is built on four parts.
're hoping for 3% gdp growth this year. and any big spike in oil makes you think that's a tax on consumers and it's harder to get. the ten-year is helping, though. in terms of keeping the housing markets going below 2.7%. the euro stayed remarkably strong for europe. basically being on the front line for this situation here. we will, after hitting some new lows, stabilize. and then finally, fwoeld, i think, traded lower yesterday after having really a great quarter, at least two months. so it's down about $4 today at 1334. and china's leaders reaffirmed the growth target of 7.5% but signaled some concerns about reaching that target. eunice yoon joins us now. we're in a great big city this morning, eunice, tossing to you over there. we're feeling very -- i don't know. we're going to change the world. >> you are. i think that's how people here feel, as well. there were thousands of lawmakers that were gathering together in beijing to heir china's version of the state of the union. this is presented by the premier of the country and it's really the first time that investors got a chance to se
taxes and rules and regulations. they are standing by loyal to achieve. a lesson for our president. it is time for no pain and no gain. got a message that is resonating with our big i? >> it's not resonating. it's one thing to give flowery speeches. at some point you must deliver. let's be honest. even people that are wholeheartedly behind obama -- [laughter] that is my man, right there. and you know, what i also like? i like that also he the guy that says i make mistakes. an occasional apology goes a long way in. >> you know, this crazy chris farley type, toronto was a great city and are a great deal of businesses to cut taxes, rules and regulations, in large part the investment macker that it has become, there are a lot of other factors as well. not the least of which is the depreciating canadian dollar. but this guy gets a lot of credit for giving people more of their money. >> to your point, it canada has had a resource driven economy. he says i want toronto to be more than that but in the future we can smooth out the ups and downs of the price of lumber goes down for any kind
in all areas. the premier this that some key areas administrative systems tax the financial sector role and ownership household registration and social welfare. the cats and plants to streamline government structures and the monkeys play a decisive role the talking footy in the world has been set at seven point five percent lower than last year's seven point seven percent. emily says the government will maintain a reasonable pace of gdp roles. well continuing to improve role econs deficiency and reduce negative side effects. many believe the continued joy for reform would mean slower but more sustainable long term role one key factor to that change will be held successfully china shipped from the investment and export field role was to increase domestic consumption the government is also determined to love the headline grabbing the issue of air pollution by introducing stricter emission controls. and there was a strong emphasis on goal in the premier's speech. we will fully implement the basic strategy of law based governments to act in accordance with the all in all our government work
on supporting the middle class then reducing the budget deficit through higher taxes for the bench. he's apparently during the midterm congressional elections in november. obama is calling for more works projects such as repairing roads and railways. he also aims to boost employment by introducing more vocational training. his proposals include tax cuts for lower income people and better pre school education. spending is set to slightly exceed three point nine trillion dollars while revenue is expected to increase to more than three point three trillion dollars as an economic recovery boost tax income. obama says the budget deficit will decline to five hundred sixty four billion dollars the lowest level in his presidency. we go to the side of the road you squeeze the middle class or for going to continue to reduce the deficit is responsible for all taking steps to grow and strengthen the middle class. republican house speaker john bain are strongly criticized the draft he said it was the most irresponsible. he said it would only increase spending and borrowing expanded governments and
expand the earned income tax credit for low income workers. to raise revenue it would kill a carry from tax loophole, lowering taxes for private equity managers. it calls for a $56 billion increase in spending from this year. >> well, we are looking at some rain showers down the south, and we had beautiful weather across the north-east. what we are concerned about is the cold air that is filtering through canada, coming in through the northern planes. it will be a change for many people. what we are seeing is here there's a line of precip, and to the north of that line, that is where the cold air will be a problem. take minneapolis as an example of the the temperatures will go down. that's not factoring the windchill. monday 13 degrees, tuesday 6. later in the week we go down to two. as a high temperature, overnight lows at minus 7. factoring the windchill it's more like 15 degrees. across the north-west we see rain showers. they are tapering off tonight and this morning. as we go through the rest of the day we'll pick up more showers. we don't expect them to d too heavy. we expect bett
conservative groups that were seeking tax-exempt status to heighten scrutiny. delaying these groups' applications suggests an effort to chill the constitutional right of speech and association by groups that hold conservative views. the details that have emerged are trouble alarming. the i.r.s. has admitted that it deliberately targeted conservative groups' applications for tax-exempt status for extra review if they included such words as "tea party," "patriots," "912" in their names. or if they criticized how this country is being run. or if their purpose were to address government spending, government debt, taxes, or simply to make america a better place. incredible, mr. president. these inappropriate criteria stayed in place for more than 18 months and resulted in substantial delays in processing the applications of many different groups. in some cases, the applications remained outstanding for more than two years. the i.r.s. also sought to compel some of the targeted groups to divulge their membership lists. i.r.s. officials have subsequently admitted that there was absolutely n
unveiling the 2015 budget and it calls for 59 trillion in spending. it would raise taxes on the wealthy and give tax breaks to poor and middle class americans. it will significantly reduce the size of the military with deep cuts to the defense budget. the proposal pushes health and human services spending over 1 trillion for the first time ever. what does the budget proposal mean for your wallet? we will break it down at 5:40. the first primaries of the 2014 election season are in the books. the elections in the texas area easily solved abbott and davis get their party's nominations. but things weren't quite as simple for the nation's oldest member of congress. 90-year-old republican ralph paul who is seeking his 18th term did not win 50 percent of the primary vote. which forces him nool a may runoff against former u.s. attorney jay ratliff. son of former governor jeb bush won the primary for texas land commissioner. he's expected to win the january election in november. >>> massive crowds celebrating mardi gras in new orleans. this morning the party is dying down because today is ash w
: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com cheryl: former irs official lois lerner pleading the fifth for the second time after being called before congress to testify. rich edson standing by from capitol hill where the fireworks erupted this morning. rich: this has been nine months in the making, this is a continuation of a hearing back in may in which lois lerner pled the fifth. talk about whether or not she gave up the right earlier in the hearings so she is back on capitol hill, we expected chairman darrell issa, lois lerner file in front of the committee for the first time in nine months. it wasn't. >> ct do cence, that is not the way to supposed to work. there are other e-mails coming out that have been requested and other individuals inside the irs are talking. it may be a special prosecutor is needed. at the end of the day t
we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com >> i had been devised by my counsel a constitutional right not to testify. neil: today back in the odyssey. >> hot seat. >> why would you say that he partied cases are dangerous? >> on advice of my counsel i use my fifth amendment right to. >> what about teapartier review? >> respectfully exercise my fifth amendment right. >> there is not one smidgen of corruption? >> respectfully exercise my fifth amendment right. >> i have no expectation she will cooperate with this committee so we stand adjourned >> democrats and to republicans appear her and officials say nothing. one of the republicans that left the room it is like it disintegrated. >> of course we had been negotiating with her attorney to get her to come in. we conti
be in for the largest property tax hike since the recession started. the board of supervisors voted last night to advertise the tax rate if $1.10 per $100 of assessed value. now that's 2 cents higher than the current rate. each cent increase adds up to about $50 on the average taxpayer's bill. there will be several public hearings held on this measure for the next month. >>> montgomery county police have now identified the people killed in two back to back murders. last night, 21-year-old, james allen frasier of rockville was shot to death near the intersection of route 355 and oxbridge drive in germantown. the night before. 22-year-old, mark taylor, a graduate was killed just outside a home on lockland drive in silver spring. scott broom spoke with police today. >> is there any reason to believe any evidence at all that these two incidents may be linked in any way? >> nothing that we have is pointing to that at all. >> and police have not announced any suspects or leads in either case. they continue, though, to guard the house nearly 48 hours after that shooting there. >>> his job is to serve
billion spending increase. huge increase in spending. the other side of the coin is tax sayings. we are going to be -- we are bringing 2.7 trillion in taxation last year. it will be 2.3 trillion next year and the president wants another trillion on top of that. the big picture very clear. tax more, spend more, more government. gregg: off camera you were telling me about the earned income tax credit. >> included in this budget there is an expansion of the earned income tax credit. that's a check that goats out in the mail to people who are working that earn very little money. the president proposed to expand that and bring in an extra 13 million people to get that check every year. those 13 million people have no children. at the moment you can't get the earned income tax credit if they have got no children. the president will expand that, people with no children will be brought in. 13 million more people getting that check in the mail, paid for by you the taxpayer. it's a vast expansion of what we call the social security net under this budget. gregg: there are a great many skeptics
control and in plans in time courtesy of tax hikes, but not a lot of spending cuts. >> well, a couple things. first of all, if you look at this budget, it shows the that the deficits are steadily decreasing, year by year. as you know, we've cut them in half over the last four years. and this budget puts the them on a continuing downward trajectory, number one. >> but they are still relying on tax hikes. $1 trillion worth over the next year. and i'm wondering, where are the savings? because the president and republicans, too, there were no fair players on this, they reversed what were going to be minor cost of living juchlgts in the last deal. they scrapped that altogether. writes the will for getting this under control? >> two things. i think if you look in the medicare area, the president's budget identifies some additional efficiencieefficienc that are saved, that are cut, not by harming beneficiaries, but by reducing and continue to reduce some of the overpayments to the private insurance companies, by changing the way you reimburse big pharmaceutical companies. those are real cuts
. >>> now, to the south bay, where san jose voters will soon be asked to decide to renew a tax to fund the stie libraries. it is set to expire next year. the city council asked voters to renew tax. it raises about $8 million a year. >>> president obama unveiled his 2015 budget today. it calls for $3.9 trillion in spending. the president went to an elementary school in washington, d.c. to highlight his plans for increased spending in education. it also includes money for public works, and end certain tax breaks for the wealthy. republicans don't like it. more details on what's included for california. it calls for $37 million to help restore san francisco bay, and the delta. more than $300 million to expand two major border crossings with mexico, but it would cut community block services grants to $30 million from $60 million. >>> new at 10:00, the family of the woman who disappeared from san francisco general hospital has filed a legal claim against the city. lynne spalding was found dead in a seldom used stairwell, more than two weeks after she was reported missing. her family is seek
progress on some sort of a national property tax. given the property tax, although it seems residential, will that have knock on effects through commercial? >> i think they've been talking about that. every year at this time, people grabbing headlines. what will pay attention to government policy? it's not surprising they've been talking about property tax. that's been anticipated for many years. i think the market has digested that. everybody expects it to be gradual. so it's important to start having property taxes. if you hold property in china, there's no property costs. if your home is sitting there empty, there's no penalty because you don't really feel hurt. that's why the worry is there are so many buildings and not being occupied and not being neutralized. and so having introduced the property tax will deal directly with that. now, continuing to hold the property if there's a tax you need to pay every month? >> highly rated u.s. companies sold more than $19 billion in debt on tuesday, the busiest day of the year. they looked to take advantage of recent rallies in u.s. treasurie
ideas and prospects for tax reform. what are your prospects for the election? >> cures my sense of where we are. and the chairman is where we are. trying to build on some of the ideas science or do. and he moved in and cleaned out special interest rates to hold down the rate and restoring progress. and what i think the challenge is going to be is to look at where the house and senate turn the table and make at least some progress in terms of building towards tax reform. what happened last november, and it was widely publicized, is the house leadership essentially said that obamacare was going to be their course for 2014. that is what they were going to put the focus on. and when they do that, that really changed the timetable. so the chairman was still chairman of the senate finance committee. but of course he is retiring in 2014. i had to make some decisions about where we are. even one the chairman talked about how it would affect tax reform. and so the house and the senate have to deal with something called the tactics standards. and this is about 55 provisions, number of which affect
: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com [ mawhile a body in motionat resnds to stay in motion.t... staying active can ease arthritis symptoms. but if you have arthritis, this can be difficult. prescription celebrex can help relieve arthritis pain and improve daily physical function so moving is easier. because just one 200mg cebrex a day can provide 24 hour relief for many with arthritis pain. and it's not a narcotic. you and your doctor should balance the benefits with the risks. all prescription nsaids, like celebrex, ibuprofen, naproxen and meloxicam have the same cardiovascular warning. they all may increase the chance of heart attack or stroke, which can lead to death. this chance increases if you have heart disease or risk factors such as high blood
be compromised here? >> i do not see anything. it is $1 trillion more in taxes, increasing spending dramatically, not adhering to the compromise budget deal president obama signed a few months ago. that has been a problem. we do the budget control act, and then people weasel out of that. they do a compromise, and the first piece of legislation violates that. of course, this president is doing nothing to address the two thirds of the budget, the transfer payments, entitlement programs, that are on an unsustainable path. i do see a lot we can compromise on here. i happen to like the budget, but it is, relatively speaking, a non-event. there was a key agreement struck two months ago by the house represented by paul ryan, the senate represented by patty murray, in terms of discretionary spending and the key items within the discretionary account. second of all, this is a congressional election a year, obviously. i do not think this budget, which i happen to like, is going anywhere. >> what do you like about it? >> the deficit is going down considerably. >> is that from fiscal reform or from the econ
an economic renaissance, right? >> absolutely. if we just do a couple simple things -- we haven't had tax reform since 1986. it was before the internet got invented. we don't have a system that's competitive. immigration, that's a challenge. we need stem workers in this country to free up manufacturing. you have a bipartisan budget proposed. proposed. we put aside the shutdowns and debt ceilings and all that debate came off the table. those are small victories. >> joe ecchevaria. >> you said that differently. >> well, that's how other people say. >> coming up, mayor de blasio under fire. we'll talk to charter school founder eva moskowitz straight ahead. we'll be right back. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection. and because usaa's commitment to serve current and former military members and their families is without equal. begin your legacy. get an auto insurance quote. usaa. we know what it means to serve. millions have raised their hand for th
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